Lithia Motors Upgraded to “Buy” by Bank of America Corp. (LAD)
Lithia Motors (NYSE:LAD) was upgraded by analysts at Bank of America Corp. to a “buy” rating in a research report issued to clients and investors on Thursday, Analyst Ratings Network.com reports.
Lithia Motors (NYSE:LAD) traded up 2.13% during mid-day trading on Thursday, hitting $64.66. 1,276,529 shares of the company’s stock traded hands. Lithia Motors has a 1-year low of $31.05 and a 1-year high of $71.39. The stock’s 50-day moving average is $66.89 and its 200-day moving average is $54.51. The company has a market cap of $1.671 billion and a price-to-earnings ratio of 18.01.
Lithia Motors (NYSE:LAD) last announced its earnings results on Wednesday, October 23rd. The company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.03. The company had revenue of $190.80 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the previous year, the company posted $0.90 earnings per share. The company’s revenue for the quarter was up 21.7% on a year-over-year basis.
The company also recently announced a quarterly dividend, which is scheduled for Friday, November 22nd. Investors of record on Friday, November 8th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.80%. The ex-dividend date is Wednesday, November 6th.
Several other analysts have also recently commented on the stock. Analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Lithia Motors in a research note to investors on Wednesday, September 25th. They now have a $83.00 price target on the stock, up previously from $65.00. Separately, analysts at CL King initiated coverage on shares of Lithia Motors in a research note to investors on Thursday, September 5th. They set a “buy” rating on the stock. Finally, analysts at Merrill Lynch downgraded shares of Lithia Motors from a “buy” rating to a “neutral” rating in a research note to investors on Monday, August 12th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Lithia Motors has a consensus rating of “Buy” and an average target price of $69.55.
Lithia Motors, Inc, is an operator of automotive franchises and a retailer of new and used vehicles and services.
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